Eurex has achieved a core aim of a profit-sharing scheme introduced for interest rate swaps clearing without yet paying a cent to participating clearing members.
Under the terms of the scheme, the top 10 members by volume are awarded a share of monthly transaction revenues above a fixed threshold. Eight months into the scheme, the €2.3 million ($2.7 million) monthly threshold is yet to be breached, leaving all 32 programme members empty-handed to date.
Three scheme members told Risk.net they
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